At present, the decline of raw material bisphenol A is slowing down, epichlorohydrin is expected to fluctuate weak, cost support performance is expected to be weak, and the short term good news in the epoxy resin market is difficult, buyers have a bearish attitude towards the future market.
Overview of domestic epoxy resin market
The focus of the epoxy resin market this week has fallen. During the week, the decline of raw material bisphenol A continued, and another raw material epoxyopropane had a high stalemate, and the cost support performance was average. During this week, the new orders of epoxy resins were not smooth, and some epoxy resin factories were adjusted. The overall construction of the industry declined compared with last week. The good news of the epoxy resin market is difficult to find, the industry is not confident in the market outlook, the production enterprises are softened, the new list has room for discussion, the downstream selection is required to replenish, and it is difficult to improve the gas on the field.
As of the closing of this Thursday, East China liquid epoxy resin E-51 mainstream reference discussion of RMB 15,200-15,900/ton large barrel acceptance was delivered, with an average weekly price of RMB 15,770/ton, a 3.43% price from the previous week; E-12 mainstream reference negotiations are RMB 14,000-14,300/ton acceptance, with an average weekly price of RMB 14,400/ton, a 4.13% price from the average price last week.
Epoxy resin market price market in each area
East China: The epoxy resin market in East China is quiet, the cost of raw materials is a drag on the mentality of the industry, the offer is more profitable to talk about, the enthusiasm of downstream buying is not high, the market new single delivery is few, the mainstream negotiation temporarily refer to RMB 15,300-15,900/ton VAT acceptance delivery.
South China: South China ’s epoxy resin market has a downturn, and the cost support performance is weak,the manufacturer’s offer has a lot of margin space, the downstream wait-and-see sentiment is dominant, the market trading atmosphere is weak, the mainstream negotiation temporarily refer to RMB 15,500-16,100/ton VAT acceptance delivery.
Epoxy resin industry chain market
Supply and demand market analysis
Bisphenol A Analysis: This week, the capacity utilization rate of bisphenol A domestic device was 68.43%, an increase of 2.9 percentage points from last week (11/25-12/01). This week, Nanya Plastic operated steadily after the materials were released on December 5. Shanghai Petrochemical Mitsui was maintained on December 7. The load of other devices did not fluctuate significantly. Under hedging, bisphenol A’s domestic capacity utilization rate increased (Note: statistics of Luxi Chemical Industry included).
Epichlorohydrin analysis: The capacity utilization rate of the domestic epoxy oxide industry is 53.89%, a decrease of 0.35%. On the week, the Jiangsu Grand Factory 100,000 tons/year glycerin method device was restarted on December 8th; Jiangsu Haixing 130,000 tons/year acrylonitic device was unstable; Shandong Sanyan 60,000 tons/year acrylonin method December 4 Restarting restart, low load operation; Dongying’s 30,000 tons/year propylene device was restarted on November 28, but this week was unstable; Ningbo Zhenyang, Baling Petrochemical, Hebei Jiaao, and Zhuotai were all in parking. In addition, the 75,000 tons/year of the glycerin method plan for Binhua Group on December 9th is expected to restart on December 20; other devices are relatively stable.
Future market forecast
Epoxy resin cost support is weak, downstream demand follow-up is limited, more cautious to wait and see, the actual single delivery is still insufficient. It is expected that the weak market of epoxy resin has a high probability of shock next week. The mainstream negotiation of liquid epoxy resin refers to 14,300-15,000 yuan/ton for water purification delivery, and the mainstream negotiation of solid epoxy resin refers to 13,900-14,300 yuan/ton for cash delivery. We still need to pay attention to the trend of upstream raw materials and downstream follow-up.
Post time: Dec-15-2022